Flexible Office
For Sale
Contact for pricing
2690 Commerce Dr, Harrisburg, PA 17110
Two-floor office property supporting full-building occupancy or separation into two tenant suites.
Property Size10,300 SF
Price / SF$154.85
Days on Market63
Property Features for 2690 Commerce Dr
General Information
Standard status
Active
Size
10,300 SF
Property subtype
OFFICE
Additional Details
Highway Access
Yes
Amenities
monument signage
Building Details
Buildings
1
Stories
2
Building Size
10,300 SF
Listing Agency:
Landmark Commercial Realty
(717) 731-1990
Listed By:
Thomas Posavec
(717) 503-7755
Source:
Moodyscre
Added: Jul 8
Changed: Sep 6
Last Checked: Sep 7 at 12:00PM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Landmark Commercial Realty
Investment Insights
Based on property information with market context.
This 10,300 SF office building offers two floors that can accommodate one organization or be configured as separate tenant areas. Flexible floor plans, finished office interiors, prominent monument signage, and recent HVAC and landscaping improvements support a range of occupancy arrangements. Two-level parking serves the property.
The building is located within Commerce Park in Susquehanna Township, with immediate access to I-81. Retail, dining, and service amenities are located nearby, adding convenience for occupants and visitors.
The building is located within Commerce Park in Susquehanna Township, with immediate access to I-81. Retail, dining, and service amenities are located nearby, adding convenience for occupants and visitors.
Key Highlights
- 10,300 SF office building with two floors available
- Can support a single occupant or two separate tenant spaces
- Flexible floor plans with finished office interiors
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$132,362
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
8.30%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$2,647,240
$2.6M
Cap Rate 7%
$1,890,886
$1.9M
Cap Rate 9%
$1,470,689
$1.5M
Market Conditions
NOI Build-Up for 10,300 SF
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
Gross rent
$206.4K $20.04/SF
− Vacancy
−$29.9K −$2.91/SF
EGI
$176.5K $17.13/SF
− OpEx
−$44.1K −$4.28/SF
NOI
$132.4K $12.85/SF
Area
Dauphin County, PA
Vacancy
14.50%
Lease Rate
$20.04 /SF/Yr
Expense Ratio
25.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$2,647,240
Cap Rate 7%
$1,890,886
Cap Rate 9%
$1,470,689
Alternative Uses
Best Use
Office B
$1.89M
$1.65M – $2.21M
NOI $132,362 @ 7.0% cap · market cap 8.30%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$18.97M
$16.60M – $22.13M
NOI $1,327,928 @ 7.0% cap · market cap 83.26%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
380
Businesses Nearby
Explore this area
Business Placement
Demographics for 17110, PA
27,239
Population
12,246
Households
2.2
Avg Household Size
40
Median Age
41%
College-Educated
93%
High-School Grad
14.9 sq mi
ZIP Area
1,828
Density / Sq Mi
$79,499
Median Household Income
$51,428
Median Earnings
$1,400
Median Rent
$206,200
Median Home Value
Market
Vacancy Rate% for Office in Northeast region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Office building - Two-floor office property supporting full-building occupancy or separation into two tenant suites.
Where is this office building located?
The property is located at 2690 Commerce Dr Harrisburg, PA.
What is the asking price?
The asking price for this property is $1,595,000.
What are key features of this property?
This property features: 10,300 SF office building with two floors available; Can support a single occupant or two separate tenant spaces; Flexible floor plans with finished office interiors
